{"id":32142,"date":"2023-11-09T00:52:35","date_gmt":"2023-11-09T04:52:35","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32142"},"modified":"2023-11-09T00:52:35","modified_gmt":"2023-11-09T04:52:35","slug":"bitcoins-grip-strengthens-record-high-in-long-term-holdings-signals-bullish-horizon","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/09\/bitcoins-grip-strengthens-record-high-in-long-term-holdings-signals-bullish-horizon\/","title":{"rendered":"Bitcoin\u2019s Grip Strengthens: Record High In Long-Term Holdings Signals Bullish Horizon"},"content":{"rendered":"

Amid fluctuating markets and economic uncertainty, Bitcoin long-term investors hold their coins tighter than ever. Data<\/a> from blockchain analysis firm Glassnode reveals a notable trend: a significant portion of Bitcoin\u2019s circulating supply is firmly in the hands of long-term holders<\/a>, with figures reaching record heights. <\/p>\n

Notably, the trend of Bitcoin being tightly held is not a new phenomenon, but the level of accumulation we\u2019re witnessing today appears unprecedented. Glassnode\u2019s research points out that the community of long-term Bitcoin holders is not just growing but doing so at an \u201cimpressive rate of accumulation.\u201d <\/p>\n

This cohort\u2019s commitment is evidenced by the historical highs in key supply metrics\u2014illiquid supply, coins held (HODLed), and long-term holder supply\u2014are all at their peak, according to shared Glassnode insights.<\/p>\n

A Dive into Bitcoin\u2019s Illiquid Supply\u00a0<\/h2>\n

Glassnode\u2019s briefing depicted the Bitcoin market\u2019s current state. The data illustrates that 68% of Bitcoin\u2019s circulating supply has not moved for more than a year, indicating a decision by investors to hold through volatility and market dips<\/a>.<\/p>\n

The metric for coins held for over five years is even more telling, constituting nearly a third of all Bitcoin in circulation. In terms of Bitcoin\u2019s illiquid supply\u2014coins held in wallets with little to no spending history\u2014the figures are also at an all-time high, with over 15.4 million BTC firmly held. <\/p>\n

This illiquidity is not a static condition as it is growing monthly at 71,000 Bitcoin, according to Glassnode\u2019s analysis.<\/p>\n

According to a Glassnode analyst, this accumulation has coincided with a notable pattern of investors pulling their Bitcoin from exchanges into private custody, further solidifying the trend<\/a> of long-term holding. The analyst disclosed:<\/p>\n

The data suggests investors are continuing to withdraw their coins into custody, with over 1.7 million bitcoin doing so since May 2021.<\/p>\n

Bitcoin: Divergence In Holders And Latest Price Action<\/h2>\n

Glassnode\u2019s report also highlights a significant divergence between the behaviors of long-term and short-term Bitcoin holders. While long-term supply is seeing historic highs, short-term holder supply is at record lows, indicating a change in spending habits after the currency\u2019s surge above the pivotal $30,000 benchmark.\u00a0<\/p>\n

Glassnode\u2019s analysis suggests this price point is a crucial battleground for bullish sentiment<\/a>, marking a potential inflection point in the market\u2019s trajectory.<\/p>\n

Meanwhile, over the past week, Bitcoin has continued its bullishness, recording a gain of 2.9%. The asset currently trades for $35,216 at the time of writing, up by 1.5% in the past 24 hours.<\/p>\n

Featured image from iStock, chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Amid fluctuating markets and economic uncertainty, Bitcoin long-term investors hold their coins tighter than ever. Data<\/a> from blockchain analysis firm Glassnode reveals a notable trend: a significant portion of Bitcoin\u2019s circulating supply is firmly in the hands of long-term holders<\/a>, with figures reaching record heights. <\/p>\n

Notably, the trend of Bitcoin being tightly held is not a new phenomenon, but the level of accumulation we\u2019re witnessing today appears unprecedented. Glassnode\u2019s research points out that the community of long-term Bitcoin holders is not just growing but doing so at an \u201cimpressive rate of accumulation.\u201d <\/p>\n

This cohort\u2019s commitment is evidenced by the historical highs in key supply metrics\u2014illiquid supply, coins held (HODLed), and long-term holder supply\u2014are all at their peak, according to shared Glassnode insights.<\/p>\n

A Dive into Bitcoin\u2019s Illiquid Supply\u00a0<\/h2>\n

Glassnode\u2019s briefing depicted the Bitcoin market\u2019s current state. The data illustrates that 68% of Bitcoin\u2019s circulating supply has not moved for more than a year, indicating a decision by investors to hold through volatility and market dips<\/a>.<\/p>\n

The metric for coins held for over five years is even more telling, constituting nearly a third of all Bitcoin in circulation. In terms of Bitcoin\u2019s illiquid supply\u2014coins held in wallets with little to no spending history\u2014the figures are also at an all-time high, with over 15.4 million BTC firmly held. <\/p>\n

This illiquidity is not a static condition as it is growing monthly at 71,000 Bitcoin, according to Glassnode\u2019s analysis.<\/p>\n

According to a Glassnode analyst, this accumulation has coincided with a notable pattern of investors pulling their Bitcoin from exchanges into private custody, further solidifying the trend<\/a> of long-term holding. The analyst disclosed:<\/p>\n

The data suggests investors are continuing to withdraw their coins into custody, with over 1.7 million bitcoin doing so since May 2021.<\/p>\n

Bitcoin: Divergence In Holders And Latest Price Action<\/h2>\n

Glassnode\u2019s report also highlights a significant divergence between the behaviors of long-term and short-term Bitcoin holders. While long-term supply is seeing historic highs, short-term holder supply is at record lows, indicating a change in spending habits after the currency\u2019s surge above the pivotal $30,000 benchmark.\u00a0<\/p>\n

Glassnode\u2019s analysis suggests this price point is a crucial battleground for bullish sentiment<\/a>, marking a potential inflection point in the market\u2019s trajectory.<\/p>\n

Meanwhile, over the past week, Bitcoin has continued its bullishness, recording a gain of 2.9%. The asset currently trades for $35,216 at the time of writing, up by 1.5% in the past 24 hours.<\/p>\n

Featured image from iStock, chart from TradingView<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-32142","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=32142"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32142\/revisions"}],"predecessor-version":[{"id":32160,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32142\/revisions\/32160"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32142"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}